While BTC is preparing for the next move Altscoins like...
While BTC is preparing for the next move... Altcoing like EOS, BNB, LTC, XRP among others... are doing great in the last couple of days.
Comparing dominances between multiple coins like Bitcoin, Tether, and some of the TOP altcoins allows us to easily spot whether BTC and/or the whole market is dropping or growing.
Most important tickers you should always pay attention are:
- CRYPTOCAP:USDT.D ticker: This is the USDT market share (dark green in chart). When USDT market share raises we might be close to a big dump. Capital flows from to USDT for protection. Conversely when USDT market share decreases, we see BTC and altcoins pump.
- CRYPTOCAP:BTC.D: This is the Bitcoin dominance (orange line in chart). When BTC market share rises, it means Bitcoins is doing or preparing for big move (either upside or downside). Investors are more cautious and go from altcoins back to BTC. When BTC market share decreases, it usually means Investors are taking riskier opportunities and capital flows from BTC to alts.
Note: It's very important to analyze BTC market share when USDT.D market share is dropping. This means the capital inflow is coming back to the market. Is it coming back to Bitcoin? Or any other alt? Is Bitcoin moving with enough volume? or is Bitcoin moving sideways consolidating while altcoins are pumping? What tether dominance is doing?
Did you know about this information? Did you ever read the market share (dominance) for any coin besides its USD value?
I have prepared myself a market monitor that alerts me whether market share is rising fast or dropping fast for any coin. And I'm sending these alerts directly to my phone by a telegram chat. This has been great for me to make better trading decisions.
And you, How would you use this information in your trading?
Comparing dominances between multiple coins like Bitcoin, Tether, and some of the TOP altcoins allows us to easily spot whether BTC and/or the whole market is dropping or growing.
Most important tickers you should always pay attention are:
- CRYPTOCAP:USDT.D ticker: This is the USDT market share (dark green in chart). When USDT market share raises we might be close to a big dump. Capital flows from to USDT for protection. Conversely when USDT market share decreases, we see BTC and altcoins pump.
- CRYPTOCAP:BTC.D: This is the Bitcoin dominance (orange line in chart). When BTC market share rises, it means Bitcoins is doing or preparing for big move (either upside or downside). Investors are more cautious and go from altcoins back to BTC. When BTC market share decreases, it usually means Investors are taking riskier opportunities and capital flows from BTC to alts.
Note: It's very important to analyze BTC market share when USDT.D market share is dropping. This means the capital inflow is coming back to the market. Is it coming back to Bitcoin? Or any other alt? Is Bitcoin moving with enough volume? or is Bitcoin moving sideways consolidating while altcoins are pumping? What tether dominance is doing?
Did you know about this information? Did you ever read the market share (dominance) for any coin besides its USD value?
I have prepared myself a market monitor that alerts me whether market share is rising fast or dropping fast for any coin. And I'm sending these alerts directly to my phone by a telegram chat. This has been great for me to make better trading decisions.
And you, How would you use this information in your trading?